AWAD v 3AM PROPERTY INVESTMENT COMPANY LLC & Anor [2025] ADGMCFI 0014 (09 July 2025)

AWAD v 3AM PROPERTY INVESTMENT COMPANY LLC & Anor [2025] ADGMCFI 0014 (09 July 2025)

The claimant is entitled to an order compelling 3AM to execute a power of attorney in his favour as expressly required by the LIC, as damages would not be an adequate remedy and 3AM's conduct indicates it would otherwise frustrate the contract. The appointment of a receiver is refused as unnecessary, unconventional, and potentially prejudicial, given the power of attorney remedy and lack of clarity or utility in the proposed receivership.

Citation
[2025] ADGMCFI 0014
Parties
Claimant: Faysal Mohamad Awad; First Defendant: 3AM Property Investment Company LLC; Second Defendant: Adel Abdulhameed Ibrahim Abdulla Alhosani; Interested Party: Abu Dhabi Commercial Bank PJSC
Jurisdiction
United Arab Emirates
Judgment Date
09 July 2025
Procedural Posture
Commercial and Civil / Post Judgment Applications for Relief and Enforcement
Outcome
Partial grant of relief to claimant; other applications adjourned.
Legal Topics
Specific Performance, Power of Attorney, Appointment of Receiver, Mortgage Enforcement, Injunctions
Contract Law Commercial Law Banking Law Specific Performance Power of Attorney Appointment of Receiver Mortgage Enforcement Injunctions

Case Brief

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Parties

Faysal Mohamad Awad

Claimant

3AM Property Investment Company LLC

First Defendant

Adel Abdulhameed Ibrahim Abdulla Alhosani

Second Defendant

Abu Dhabi Commercial Bank PJSC

Interested Party

Procedural Posture

Commercial and Civil / Post Judgment Applications for Relief and Enforcement

Legal Issues

  1. 1 Whether the claimant is entitled to a mandatory order compelling the defendant to execute a power of attorney as contemplated by the contract (LIC)
  2. 2 Whether a receiver should be appointed over the project or company
  3. 3 Whether the claimant is entitled to further injunctive or specific performance relief, including disclosure and joint account opening

Ratio Decidendi

The claimant is entitled to an order compelling 3AM to execute a power of attorney in his favour as expressly required by the LIC, as damages would not be an adequate remedy and 3AM's conduct indicates it would otherwise frustrate the contract. The appointment of a receiver is refused as unnecessary, unconventional, and potentially prejudicial, given the power of attorney remedy and lack of clarity or utility in the proposed receivership.

Court Disposition

Partial grant of relief to claimant; other applications adjourned.

Orders

  • 3AM Property Investment Company LLC shall file and serve, including upon ADCB by email to its Solicitors, Holman Fenwick Willan LLP, a draft power of attorney with a certified English translation by 5.00 pm on 16 July 2025.
  • All other applications are adjourned generally.